Sue Hall

"My reputation is your guarantee"

"Just wanted to thank you for making the sale of 53 Carrington Avenue so seamless and stressless. My only regret is that we haven't actually met you yet! But we will make sure to come over and do that before long. Anyway, thanks again for all your great work on our behalf. "

- Trevor & Pauline

"What I like about Sue is her professional behaviour, integrity, reliability and how she is totally straight up and honest. All traits that are of utmost importance when dealing with clients' biggest decisions in their lives – Buying and selling a home. I know Sue is fantastic at what she does - She has proven herself to me over and over...."

- Vikki Seaman
More testimonials »

Auckland Investors Look Further Afield

20th Jul 16

Auckland property investors are on a buying spree - snapping up more and more houses in their own city as well as almost a fifth of all the houses sold in Hamilton last month.

Property owners who own multiple houses including some in Auckland bought just under half of all the houses sold in the city of sails in June - the biggest number of investors to buy in any one month, according to data provided to the Herald by CoreLogic.

Their spending continued south of the Bombay Hills where they bought 17 per cent of all the houses sold in Hamilton, up 10 per cent from June 2014. Between 2010 and 2014, Auckland investors buying in Hamilton hovered near the 5 per cent mark but soared to 18 per cent last September.

Property Investors Federation executive officer Andrew King said Auckland investors started looking to places such as Hamilton to buy about September when the yields for rentals in Auckland were dropping. "At the same time the Reserve Bank made it harder for investors to buy in Auckland but easier elsewhere."

CoreLogic senior research analyst Nick Goodall said the rise of Auckland investors in Hamilton had come at a cost to other investors and, to a lesser extent, first-home property buyers.

CoreLogic analysis also showed Auckland investors were willing to spend as much as first-home buyers in Hamilton, Tauranga and Whangarei which pushed prices up and other investors out of the market.

"Those Aucklanders when they do go into those markets, they have been paying close to first-home buyers (who tend to pay an average of 2 per cent more than other buyers) and the reason being they've got the money because they've got their home leveraged up in Auckland and have got the money to pay a little bit more."

Jeremy O'Rourke, managing director of Hamilton-based real estate agency Lodge, said at first Aucklanders had seen more value in the Hamilton market because they could get much higher rental returns, but Hamiltonians were now realising the value of the city for themselves.

"We've seen quite a number of Hamiltonians move in the last four months and be prepared to pay for it," O'Rourke said. "There's certainly no evidence we have that Hamiltonians are being beaten by Aucklanders by price currently."

Auckland investors also had Tauranga in their sights, with an extra 5 per cent snapping up properties in the Bay of Plenty city compared with last year. The analysis showed this had come at the expense of other investors and people moving houses.

Although Whangarei felt like an afterthought compared with Tauranga and Hamilton, Auckland investors now made up 12 per cent of the market compared with just 7 per cent in previous years.

 

- Courtesy of NZ Herald

 

^ top
Filed under Real Estate

Related posts

Leave a comment

Fields marked * are required

Sue Hall's Blog

The Designs are In

Proposed designs for Hamilton’s new Waikato Regional Theatre have now been released. The design sees the Theatre overlooking the Waikato river and includes a boutique hotel, an art gallery, retail space and the Theatre itself comprising of 1300 seats.

Read More »

Boost for KiwiBuild in Hamilton

Hamilton’s Mayor Andrew King recently met with the Housing Minister Phil Twyford. After the meeting, Mayor King was sent back to Hamilton with one clear goal – Bring Hamilton’s house prices down!

Read More »

Water Wins in Hamilton

When you think of a home in Hamilton city, what features would you think are the most sought after? A property that is a short commute to work? A home that is located in a good school zone? One that’s handy to public transport? Agree? Well, you’d be wrong!

Read More »

First Time Buyers are Back!

After being priced out of the Hamilton real estate market for two years by investors and tight lending restrictions, first home buyers are pouring back onto the scene, particularly in the $450,000 - $500,000 price bracket.

Read More »

2018 Balloons over Waikato

The 2018 Balloons over Waikato Festival officially kicked off early this morning at Innes Common.

Read More »

More Blog Articles »